Durable Goods Orders for June 2011

Data released at 5:30am PST for Durable Goods Orders for June came in at -2.1% reading. This compares to a reading of +1.9% for May. See the chart below of Durable Goods Orders by Month going back to 2008 Monthly, from Financial Sense web site. The Monthly data on the chart is in grey bars on the chart and I have included today's reading with a red X. You will notice the yearly trend is going down, not up, as you would expect with an economy recovering from a recession.


UPDATE: 8:06am PST
Haver Analytics has posted a chart of Durable Goods orders which go back further in time, which I have posted below. Notice that we have only gone below the zero point one other time since the 2008-2009 recession.